Executive Director of the Institute of Energy Security, Nana Amoasi III, has stated that Ghana may not benefit from the reduction in global fuel prices due to the depreciation. According to him, Ghana will continue to gain little or nothing from the reduction in fuel prices until the cedi begins to appreciate. “If the cedi continues on this tangent, then the Ghanaian consumers may not benefit from any price reduction on the international market. The Ghana Cedi is currently sold at GH¢10.51 at some forex bureaus in Accra. However, petrol and diesel are selling above GH¢11 and GH¢13 at various fuel pumps despite some reductions on the global market.

Source: GhanaWeb September 19, 2022 08:45 UTC